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THE HERALD OUTLOOK Saturday April 15 IMS- Page 11 Investors must plan living death estates its YOUR MONEY Paul J Rodtel I was at a funeral today Yes be was only 56 years old and died of lung cancer Yes he was a smoker but thats another story Yes I had talked to him over 20 years ago about saving and in vesting but at that time he was too busy buying a house and raising a family and paying for all the necessities of life And because he was a friend he said hed let me know when he was ready to start He never did let me know and I on ly hope and pray he set up a sav ings and investment program somewhere He spent 36 years in the teaching profession the last of them as a principal It got me thinking Some of my children have taken business courses in high school as well as economics courses but none of them seem to have been taught the basics of building a sound financial future for themselves This is something that everyone can do in this fine coun try called Canada whether they be labourers business people or pro fessionals two basics are to plan for a living estate and a death estate The living estate is to ensure that if you live to a normal age and hopefully into retirement that you will have the assets to live those retirement years in comfort and with the financial ability to enjoy life travel and all the other amenities that come with freedom of time The death estate is to ensure that if an untimely death were to occur that you would have suffi cient life insurance to provide for your family for their future These two estates are the cor nerstone of any financial plan And we think that we know the best way of incorporating these two estates for virtually everyone Firstly we should plan ahead for living That means we should save a part of everything that we earn No matter what the cir cumstances we should always live on less than we earn and save the difference The person who is just 21 years of age earning just per month if they decided to save just five per cent per month that would be If it were saved regularly each month until age 65 at 15 per cent return good mutual funds have achieved per cent to 20 per cent over the last 10 years that person would have a living estate of over If the amount saved was 100 per month the living estate would be over by age Problem is most of us do not start saving at age 21 Were too busy buying cars going out on dates enjoying life now that we have started working Life is for spending we say But if we wait to start saving that per month un til we are age 30 instead of having at age 65 wed have only Thats LESS than startingnine years earlier The death estate should be term insurance It is the cheapest that you can buy But before you buy talk to an independent in surance broker who Is able to survey the various term plans of fered by as many as 50 insurance companies Once you have built your living estate in many cases you probably dont need insurance On the other hand if income taxes ore going to be a problem upon your death you do need insurance to pay them and leave your estate intact For more information on living estate and death estate con tact Peter C 10 Fagan Drive Georgetown or phone 8777216 Paul J Rocker is President of Regal Capital Planners Ltd and author of the best seller Why I In vest In Mutual Foods Income tax time isnt going to be fun this year Oh boy Ohhh boy Somehow Im starting to get the feeling that Income Tax time isnt going to be any fun this year at all Now this is not good heavens to say that Income Tax time was much fun last year either Or any other year It goes without saying that filling out your tax return is in variably as much fun as rootcanal surgery orreruns of Geraldo Its just one of those joyless tasks we must embrace to prove were patriotic Canadians like sup porting the CFL or laughing at Wayne and Shuster But this year things are starting to look positive ly grim My stomach began to sink last fall when the government came right out and admitted that this years new tax regulations might seem just a little bit complex and confusing Governments are in the business of passing incomprehensible gbbbledygook off as simple com mon When they actually ad mit their regulations are com plicated you know youre in major trouble Its a little like hearing a Spanish Inquisitor tell you he has one or two teensy disagreements with your religious beliefs And then while innocently wat ching TV the other day the full horror dawned A financial com pany which offers assistance in fil ing tax returns is actually con cluding its commercials with the warning Dont face the new tax Good lord Here we still hoping this April 30 would be just the usual sort of tax deadline unpleasant but survivabte And now all of a sudden we learn its High Noon As I say Ive had quite enough trouble standing alone against the old tax laws Indeed theres still considerable unpleasantness con cerning a small sum which Revenue Canada insists I owe them from the 1986 tax year Im starting to get highly ir ritated considering that I have demonstrated my good faith by repeatedly conceding that I owe Minor injuries A Georgetown man was injured in a twocar collision at Sideroad and Tenth Line Saturday after noon Halton Regional Police say an eastbound Hyundai driven by a Georgetown man 20 was struck by a 1985 Ford Mustang driven by a Windsor man The Hyundai received major damage The Ford was moderately damaged Police charged a male passenger 24 of with not wearing a seatbelt A 23yearold male from Georgetown was treated for minor injuries and released from hospital Twocar collision A car driven by an 82yearold Halton Hills man was struck by a 1988 Plymouth Friday afternoon Halton police say a AMC was eastbound on Guelph Street near Alcott Drive when it struck the Plymouth Both cars received moderate damage A Georgetown woman is charg ed with going through a red light Stereo stolen Halton Regional Police report a theft from a car parked at Alex ander Street in Georgetown Thursday night Police say an ap parently locked 1982 Chevrolet was missing an AMFM stereo and a pair of prescription glasses Total value of the goods is FLORAL FANTASEY Wedding Bouquets A Arrangements FREE Home Cumulation at your convenience by appointment only Margaret and Ann 8531928 ACTON Professional Application Weddings Special Occtsbne BY APPOINTMENT ONLY BRIDAL CONSULTATION tuns CAROLINE 8773251 Next to Macs Milk Buy Any Other Item 200 or More arid Receive the Prices Above SPECIAL PUKES M EFFECT TUESDAY APRIL 1989 SEMODSDAY EVERY WEDNESDAY 0FFEicMngSftdals BULK FOODS Thomson Newsservice them money I admitted this from the outset have continued ad mitting it for the past two years Theyre the ones who refused to ac cept this admission in the spirit in which it is offered and call the whole thing quits And financial institution is warning us the new tax laws are so tough that only a fool would face them atone Whimper There is of course one last strand of hope we can ding to Just possibly this financial company is exaggerating the gravity of our peril Put it this way accountants have always had an image pro blem Theyre undoubtedly nice and efficient people but the fact remains that nobody wouldrank them alongside paratroopers and oil well firefighters on the list of Real Men with Real Jobs As such its possible these TV commercials are step one in the campaign to cast accountants in a more favorable light as the steelyeyed gunslingers who stand fearlessly between helpless homesteaders and the lowdown Revenue Boys If so these ads simply reflect every accountants secret dream which is to hear a chorus of little voices crying Come back Shane as he leaves the office each evening But somehow I dont think so Somehow Ive got this horrible feeling the accountants are telling the truth As such its time to share a small piece of information with Revenue Canada Ive got this younger brother see He goes about sixfootone and maybe pounds Plays recreational hockey my brother does Plays goal Thats why the boys call him Gump Gump can be a nice feller a nice guy Until you cross one of his kin folk And hes just become a chartered accountant So perhaps you could pass the word along to those new tax laws If they want me Ill be down by the corral Gumpll be with me And hes br inging his calculator OUR LANGUAGE by Jeffrey McQuain To erase or remove expunge If you ever misuse this verb in your writing be certain to expunge it Slumber sleeps lightly or dozes It ends with Iwnber which youll re member if you saw wood while you slumber In a book about the American In dians I came across the word What does that mean A Hogan comes from the Navajo or word which means bouse dwelling A typical bogan would be built of earth and logs and covered with mud or sod Televi sion may yet offer a series about the but its not The Hogan Your Chofca OPEN DAYS 8732151 Sun Thurt Hon Wed Saturday Passport Photos In 3 Mm WE RENT VIDEO CAMERAS NORMANDY 3943 vSriaal THE PLACE TO SHOP IN DOWNTOWN GEORGETOWN PROM DRESSES Selected Colours and Styles At For your Baking Snacks Nuts Dried Fruits Spices Soups Muffin Mbet FUvonrW Tell Elc 25 OFF ASSORTED SUMMER SPORTSWEAR Pants Tops Shorts Jackals 20 OFF SPRING COAT SALE Assorted colours and styles In Length Length and Short Jackets at Sale Ends April 22